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Announcement: Profit distribution

Announcement: Profit distribution

MEDIA RELEASE

FOR IMMEDIATE RELEASE

In four years of operation, Caisse Alliance has given back more than $20,000,000 to its members and its communities

 

NORTH BAY, March 31 2022 – At the end of the fiscal year ending December 31, 2021, the Caisse reported financial results allowing the organization to distribute $4,412,100 to its members and communities.

Of this amount, $3,400,000 is distributed to members, $600,000 is given back community projects and $412,100 is paid to preferred shareholders.  “These amounts do not include donations and sponsorships granted by the Caisse. In addition, the Caisse has paid out a total of $25 million in salaries and benefits in 2021 to its 330 employees.  We are carrying out our vision of being a key economic driver of our communities,” explained Philippe Boissonneault, President of the Board of Directors.

The profit is distributed according to the members’ use of selected financial services at the Caisse and allocated as follows: 8% of the interest paid on personal residential mortgages and interest paid on residential mortgage-secured lines of credit (*up to $750 per account) and 0.15% on term deposits. Members eligible for the 2021 distribution will receive a letter in the mail and the deposit will be made during the week of April 4, 2022.

“Teamwork and employee commitment is the key to our success. I am extremely privileged to lead a team that is so committed to delivering superior customer service to our members. I want to thank you all for being human, available and connected,” adds Mr. Pierre Dorval, President and CEO.

Since its merger in 2018, Caisse Alliance has given back more than 20 million dollars to its members and its communities. The Caisse invites its members to consider investing or spending their member dividend in the local economy to help business owners get through this difficult period.

Annual General Meeting

The Annual General Meeting (AGM) will be held in virtual mode on April 26, 2022. An invitation will be issued the week of April 4, and members will need to register in advance if they wish to attend the AGM.

“The Caisse’s Board of Directors and management team look forward to presenting its financial results, its achievements in 2021 and our future initiatives,” explains Mr. Dorval.

Highlights:

  • Caisse populaire Alliance limitée was established on January 1, 2018, following the merger of the 12 caisses of l’Alliance des caisses populaires de l’Ontario.
  • Caisse Alliance employs over 330 employees.
  • Caisse Alliance has 30 branches in 24 Northern Ontario communities.
  • Caisse Alliance has more than 2 billion dollars in assets.
  • Caisse Alliance offers quality financial services to approximately 50,000 members.

 

Media contact
Members of the media, for interviews, please contact:

Manon Aubin
Internal Communications & Social Media Advisor
Caisse Alliance
manon.aubin@acpol.com

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